证券代码：688595 证券简称：芯海科技 公告编号：2026-005 二、经营业绩、财务状况情况说明 债券代码：118015 债券简称：芯海转债 芯海科技（深圳）股份有限公司 2025年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 本公告所载2025年年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以芯海科技 （深圳）股份有限公司（以下简称"公司"或"芯海科技"）2025年年度报告为准，敬请投资者注意投资风 险。 一、2025年年度主要财务数据和指标 单位：人民币万元 ■ 注：1．本报告期初数同法定披露的上年年末数。 2．以上财务数据及指标以合并报表数据填制，但未经审计，最终结果以公司2025年年度报告为准。 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素 本报告期，公司实现营业总收入84,855.73万元，同比增长20.82%；实现归属于母公司所有者的净利 润-10,603.93万元，实现归属于母公司所有者的扣除非经常性损益的净利润-11,564.43万元。本报告期， 归属于母 ...

Group 1 - The company announced a total asset impairment loss and credit impairment loss of 22.86 million yuan for the year 2025, reflecting the company's financial condition accurately as of December 31, 2025 [2][4] - The credit impairment loss amounted to 5.77 million yuan, based on expected credit losses from accounts receivable and other receivables [2] - The inventory impairment loss was 17.09 million yuan, calculated based on the lower of cost and net realizable value [3] Group 2 - For the year 2025, the company expects to achieve an operating revenue of approximately 848 million yuan, representing a year-on-year growth of about 21% [10] - The projected net loss attributable to the parent company for 2025 is approximately 106 million yuan, which is a reduction in loss of about 67 million yuan compared to the previous year [10] - The company anticipates a net loss of approximately 116 million yuan after deducting non-recurring gains and losses, also reflecting a reduction in loss compared to the previous year [10][12] Group 3 - The revenue growth is primarily driven by the successful launch of new products such as series BMS chips, smart wearable PPG chips, and USB HUB chips, alongside stable demand in traditional business areas [13] - The company incurred share-based payment expenses of approximately 34 million yuan, impacting the net profit attributable to the parent company [14] - The asset impairment preparation is based on the company's actual situation and accounting standards, and it does not involve changes in accounting methods [4][15]

Core Viewpoint - Chipsea Technology (688595.SH) expects to achieve approximately 848 million yuan in revenue for the year 2025, representing a year-on-year growth of about 21% [1] Revenue Forecast - The company anticipates a revenue of around 848 million yuan for 2025, which is a 21% increase compared to the previous year [1] - The revenue growth is attributed to the rapid scaling of new products such as series BMS chips, smart wearable PPG chips, and USB HUB chips, which have significantly contributed to revenue [1] - Traditional business segments, including smart instruments, human-computer interaction, and low-end consumer chips, have stabilized in demand, supporting overall revenue growth [1] Profit Forecast - The company projects a net loss attributable to shareholders of approximately 106 million yuan for 2025, which is a reduction in loss of about 67 million yuan compared to the previous year [1] - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is forecasted to be around 116 million yuan, reflecting a reduction in loss of about 66 million yuan year-on-year [1]

Core Viewpoint - Beijing Yiswei Computing Technology Co., Ltd. is advancing its IPO process on the Hong Kong Stock Exchange, aiming to become the first publicly listed company focused on RISC-V architecture in China [2] Group 1: Company Overview - Founded in 2019, Yiswei Computing utilizes a new generation of RISC-V computing architecture to provide system-level solutions globally, with a focus on specialized algorithms and IP modules [2] - The company has developed two main business matrices: smart terminal chips and embodied intelligence chips, catering to various applications including home, office, automotive, and industrial scenarios [2] Group 2: Market Potential - The global RISC-V main control chip market is projected to grow from 1.1 billion in 2020 to 56.5 billion by 2024, with a compound annual growth rate (CAGR) of 166.6%, and further to 440.4 billion by 2029 at a CAGR of 38.7% [3] - RISC-V's penetration in the smart terminal chip market is expected to rise from 0.1% in 2020 to 1.3% in 2024, and further to 11.8% by 2029 [3] - In the embodied intelligence chip market, penetration is anticipated to increase from 0.4% in 2020 to 6.4% in 2024, reaching 19.1% by 2029 [3] Group 3: Product and Financial Performance - As of September 30, 2025, Yiswei Computing has commercialized over 130 products and serves more than 110 global clients, making it the largest provider of RISC-V mass-produced chips in China by product quantity [4] - The company's revenue for 2023 and 2024 was 1.752 billion and 2.025 billion respectively, showing year-on-year growth; revenue for the first three quarters of 2025 increased by 22.4% to 1.541 billion compared to the same period in 2024 [4] - Adjusted net losses have decreased from 1.704 billion in 2023 to 1.440 billion in 2024, and further to 854 million in the first three quarters of 2025, indicating a clear improvement trend [4] Group 4: Funding and Future Plans - Yiswei Computing has completed four rounds of financing totaling over 9 billion RMB, with notable investors including IDG Capital and others [4] - The funds raised from the IPO will primarily be used to enhance smart terminal and embodied intelligence solutions, improve hardware and software capabilities, pursue strategic acquisitions, expand marketing networks, and support general corporate purposes [4]

Core Viewpoint - The company, Chipsea Technology, anticipates a net profit loss of approximately 106 million yuan for the year 2025, which represents a reduction in loss of about 67 million yuan compared to the previous year [1] Revenue Performance - The company expects to achieve an operating revenue of around 848 million yuan, reflecting a year-on-year growth of approximately 21% [1] - The revenue growth is primarily driven by strategic investments in new products such as series BMS chips, smart wearable PPG chips, and USB HUB chips, which are entering a rapid scaling phase and contributing significantly to revenue [1] - Traditional advantageous businesses, including smart instruments, human-computer interaction, and low-end consumer chips, have shown a recovery in demand, maintaining stable shipments and collectively driving the annual revenue growth [1]

Core Viewpoint - The outdoor products leader, Explorer (300005.SZ), unexpectedly saw its stock price drop significantly after announcing a plan to acquire two chip companies for 678 million yuan, raising concerns about high premiums and the company's financial health [1][3][8]. Acquisition Details - Explorer plans to invest a total of 678 million yuan to acquire 51% stakes in two chip companies: Shenzhen Better Life Electronics Technology Co., Ltd. and Shanghai Tongtu Semiconductor Technology Co., Ltd. [3][5]. - The acquisition involves high premiums, with Better Life's valuation at approximately 651 million yuan, reflecting a 363.26% increase over its net asset value, and Tongtu's valuation at 703 million yuan, showing a 2119.65% increase [7]. Financial Performance - Explorer's revenue for the first three quarters of 2025 was 953 million yuan, a year-on-year decline of 13.98%, while its net profit dropped by nearly 68% to 33.03 million yuan [4][12]. - The company's outdoor business has been under pressure due to market conditions, leading to disappointing sales [4][12]. Market Reaction - Following the acquisition announcement, Explorer's stock opened slightly higher but quickly turned to a decline, ultimately closing down 12.07% on December 2 [2][8]. Future Outlook - The two acquired companies are expected to achieve a combined net profit of no less than 300 million yuan over the next three years, with performance commitments in place [4][13]. - The success of this acquisition in helping Explorer overcome its current operational challenges remains uncertain [9][14].

Core Viewpoint - The outdoor products leader, Explorer (300005.SZ), unexpectedly saw its stock price drop significantly after announcing a plan to acquire two chip companies for 678 million yuan, raising concerns about high premiums and future performance [1][3][9]. Acquisition Details - Explorer plans to invest a total of 678 million yuan to acquire 51% stakes in two chip companies: Shenzhen Better Life Electronics Technology Co., Ltd. and Shanghai Tongtu Semiconductor Technology Co., Ltd. [3][6]. - The acquisition involves a cash payment and is characterized by high premiums, with Better Life's valuation increasing by 363.26% and Tongtu's by 2119.65% compared to their net assets [8]. Financial Performance - Explorer's revenue for the first three quarters of 2025 was 953 million yuan, a year-on-year decline of 13.98%, while net profit dropped by nearly 68% to 33.03 million yuan [4][11]. - The company has faced challenges in its outdoor business due to market conditions, impacting product sales [4][11]. Future Expectations - The acquired companies are expected to achieve a combined net profit of no less than 300 million yuan over the next three years, with performance commitments from the sellers [3][12]. - Explorer's management believes that the acquisition will enhance its competitive position and benefit from the domestic substitution process in the chip industry [7][12]. Market Reaction - Following the acquisition announcement, Explorer's stock opened higher but quickly fell, closing down 12.07% on December 2, with intraday losses reaching 14.35% [2][9].

Core Viewpoint - The company has potential applications for its products and technologies in the humanoid robotics field, specifically through its IoT camera chips and human-machine interaction chips [1] Group 1 - The company responded to an investor inquiry regarding its products applicable to humanoid robots [1] - Key technologies included in the chips are ISP technology and machine learning technology, which are relevant for the robotics sector [1] - The company advised that specific applications already implemented should be referenced in periodic reports and other publicly disclosed information [1]